Turk Telecom - IPO

Türk Telekom's shares sell out

While the world is on the verge of facing a crisis, Türk Telekom's shares have sold out. Both Turks and foreigners offered five times more the offering price.

Türk Telekom's public offering of 15% of shares was sold for $1.9 billion. Foreigners provided 150 million dollars in profit, while domestic investors will add 967 million dollars to the nation's cash register. The $1.9 billion public offering has now taken fifth place amongst the globe's biggest public offering. Domestic investors offered 4.7 times the offering price, while foreign investors offered 4.3 times the asking price.